You rent from the landlord and then sublease to a tenant while collecting a spread on the rents, price, and option fee. 

Step your game up new investors, don't get caught with a wholesaler who makes up bad deals, with high fees trying to hit a home run with no spread left for you!

They also spread out that tax hit on what they finance over several years if that's important to them. 

Build Relationships and spread the word with large/small multi-family brokers, property managers, contractors and lenders.

For instance, a lot of homes I come across that don’t need repair, I can get at a good discount, so there’s some spread there, but it’s not good for your average fix and flip investor.

You just happened to get the house below market value with a spread.

I have been browsing MLS and owner listings for various areas to gauge where to make my first purchase. I've also read David Greene's book on the subject twice. One thing I thought of on the way home from work today. ...

You benefit when you can make those two things happen with the biggest spread you can negotiate in between. 

Jacks need to be added to the adjacent joists and footings to spread out the load in many cases.

Remember that when you use debt you are basically making money on the spread between the cap rate and the interest rate  Calculate what happens to your cash flow if you have to lower your rent if the market tanks... will you be underwater?